With hotels, I have a friend who works for a Private Equity firm that buys this asset class.

My wife has 8 years of hotel management experience and access to cleaning crews, maintenance etc on Call.

So, being an investor in the area as well, I do believe we have already missed the perfect timing to get into Chelsea unless you are looking into a larger apartment complex / commercial units, which is totally out of my ball game for now at least.I also see a lot of positives as Boston continues to see major deficits in the apartments needed and Chelsea has seen a lot of investments lately: FBI HQ, major hotel chains opening up, faster and inexpensive Tobin Bridge tools, etc.Best of luck on your search and please keep us in the loop for whatever you decide/find.Flavio Zanetti

@Mark RobertsonMark you need to do some research on pacific heights homes in San Francisco - I realize you are from NC and for you $10mil buys a hotel but in Manhattan NY and Pacific Heights/ SF Bay Area $10 mil buys you a decent house with probably no view - these homes have held the best value when the economy pulled back - maybe you should consider getting an 8% in such funds that focus on these areas - the one I mentioned gives you both: cross collateral security blanket and full liquidity - this is not placing the capital you have in one project and waiting for 5 years like apt bldg investing. 

They rented out a whole local hotel to house incoming freshmen almost 4 miles down the road. 

Car is also my hotel room, tenant of course violated my no dog rule and the house stinks to high heaven.  

I am working with different investment groups and they are looking for 4-5 star hotels in destination (Miami, New York, LA, Vegas )areas but their specific request is that they are OFF market.

For me its seeing the potential impact this would have for developers on many levels ( they build custom homes and apts and hotels). 

You also don't have to worry about getting a STR permit from the city or pay hotel occupancy tax, and most HOAs don't allow STR but do allow 30+ day rentals so it works great for condos & townhomes.To get around to your question 😂 when I was doing STR I had 2-3% vacancy, and over the past two years with the "Mid-term" 30+ day rentals it's been 5-6% vacancy.

Think like managing hotel from remote while you are super busy with 6 digit W2 salary.